Maricopa and Arizona working to deal with foreclosure effects

Arizona has some good news amid the national economic slump.

Last week it was announced that Arizona would receive more than $121 million from the federal government to help communities deal with the effects of foreclosure.

“This is an important step, and I’m glad that Washington, D.C. has acted on this problem in a way that will make a difference for our state. I fought hard for these resources, writing to members of Congress and to the President to urge them to pass this bill with funding that recognized how heavily the housing downturn had struck states like Arizona,” Governor Janet Napolitano said.

This new funding will be used to revitalize neighborhoods that have been hit especially hard and help Arizona families keep their homes. The funding will allow local governments and nonprofits to acquire foreclosed properties, improve them, and sell them back to homebuyers.

This will reduce the number of vacant homes in Arizona neighborhoods and reduce the blight that accompanies abandoned properties. Often, when a number of foreclosures occur in one neighborhood, vacant houses bring blight and crime, and drag down the values of other homes in the neighborhood. The new funding will help the state, local governments and nonprofits work to prevent that happening, as we keep our communities safe and vibrant.

“This funding comes on top of the work we’ve been doing in Arizona to deal with the housing slump,” Gov. Napolitano added. “A few weeks ago I announced the initiative Housing Arizona, which strengthens our foreclosure prevention efforts, provides assistance to first-time homebuyers looking to move into the affordable housing stock we do have, and fights homelessness among critical populations such as children and veterans.”

We also have our Arizona foreclosure help line, which has put thousands of Arizona homeowners in touch with local foreclosure counselors to discuss their options. If you know anyone who is concerned about falling behind on a mortgage or has already fallen behind, the Governor’s office encourages you to spread the word about the helpline, which can be reached at (877) 448-1211.

Maricopa city government is also working to assist and educate homeowners in various stages of foreclosure. Partnering with the Arizona Foreclosure Prevention Taskforce, the city will be hosting a “Saving the American Dream” event.

Residents will have the opportunity to meet individually with representatives from five different lenders and two non-profit agencies and to attend three separate assistance workshops.

The event, scheduled for Saturday, Oct. 18, will be held at Santa Rosa Elementary School from 10 a.m. to 3 p.m. with light refreshments included.

If you go:

What: City of Maricopa foreclosure assistance and information workshop
Where: Santa Rosa Elementary School, 21400 N. Santa Rosa Drive
When: Saturday, Oct. 18
Time: 10 a.m. to 3 p.m. (registration begins at 9:30 a.m.)
Cost: Free and open to the public (children welcome with parental supervision)

File photo